An e-learning platform enabling career growth through practical guidance from successful industry leaders
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | careermasterclass.com/ |
| Sectors | SaaS/PaaS Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 09847041 |
| Incorporation date | 28 Oct 2015 |
Investment summary
Business highlights
- Worked with NatWest, Barclays Bank, McDonald’s and Google
- Expanding L&D market valued at £40bn UK, $82.5bn US
- Revenue generating with a community of 11k members globally
- Scalable business model with consumer & enterprise subscriptions
Key features
Idea
Introduction
A booming self-development sector combined with accelerated uptake in e-learning during the pandemic leaves the path clear for a career development platform that brings together professionals, experts, curated content and a thriving community all in one place.
Career Masterclass’ mission is to become the one-stop career development platform working to level the playing field for professionals from under-represented or under-served groups by preparing them for the opportunities that exist today and the ones that will arise in the future.
With a burgeoning recognition amongst 57% of leaders that soft skills are more important than technical skills, Career Masterclass focuses on equipping professionals with a range of soft skills such as communication, negotiation, personal branding and leadership.
Our experience-based approach to learning leverages the lived experiences of seasoned professionals who have built successful careers and overcome challenges in the workplace.
Substantial accomplishments to date
We have grown organically over the years with the majority of sales driven by word of mouth, product demand and PR. Revenue has increased year on year and we can now lay claim to 11K members around the globe.
We successfully launched the MVP of our digital platform in December 2020 and are proud to have corporate clients such as Google, Natwest, HSBC, Barclays Bank and McDonald's.
Our female CEO & founder has a background in banking and has been listed on The Powerlist of Britain’s Most Influential People of African and African Caribbean Heritage for 3 years running. Her passion for giving back to others has propelled her vision to share the secrets of her career success through an inclusive platform, positioning Career Masterclass to capitalise on the e-learning boom.
In March 2021, we opened our first international office, in Lagos Nigeria, where we have a strong following and plan to start offering our enterprise proposition in Q2 of 2021.
The hugely successful STRETCH conference, held in Black History Month, is an annual event, attended by ever-increasing numbers (400 in 2019 and 1200 in 2020), providing an important supply of corporate and individual clients. The conference has generated significant revenue and we envisage offering these events in a hybrid format post-Covid (2019 physical and 2020 virtual).
Monetisation strategy
With the Learning and Development market currently worth over £40bn in the UK and $83bn in the US, there is huge potential for increased share. Career Masterclass is already generating revenue through our consumer and enterprise subscription model and its growth has been organic to date. Moving forward the drive to monetisation is:
Phase 1
- B2B - Platform subscriptions, accelerator programs, mentoring matching services and leadership training. (UK & Africa 2021, US 2022)
- B2C - Subscription UK and Africa 2021 & US 2022
- STRETCH conference 2022, we see this as the biggest one yet for revenue and lead generation.
Phase 2 Q2/3 2022
- B2B & B2C Recruitment, STRETCH conference held in the USA and Africa
- B2C Marketplace vetted professionals offering complementary career-related services such as CV reviews, career coaching and professional photography.
Use of proceeds
Funds raised will be used for platform development which will provide personalised content aligned to career moments that users experience. This iteration of the platform has been commissioned and is due mid-May.
The investment will also be used to increase the number of users on the platform and expand the breadth of experienced mentors and instructors available to the community.
Further funds will be used to reinforce the innovative and committed team that have made Career Masterclass successful to date, increase the quality and quantity of content, establish tech support for the new platform and expand the B2B sales pipeline.
Having enjoyed organic success so far, Career Masterclasses will also look to invest in significant marketing efforts to increase its brand reputation and users globally through influencer marketing, social media efforts, affiliate marketing, targeted advertising, PR, brand positioning and thought leadership.
Key information
The business has a £13,750 bounce back government loan from Natwest Bank which is interest free for the first 12 months and then will accrue 4.4% interest. Repayments of £244.03 will commence in June 2021.
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